The 'Great Beauty' star is reteaming with his 'Gomorrah' director on the classic.

Toni Servillo is set to reunite with Gomorrah director Matteo Garrone for his live-action update of the classic tale Pinocchio.

The Great Beauty star will play Geppetto in the film, which will reunite writer-director Garrone with many members of the creative team behind his most recent hit, the all-star fantasy-drama Tale of Tales.

Producers on the project include Garrone’s Archimede, Jeremy Thomas’ RPC and Jean Labadie’s Le Pacte, in association with Rai Cinema. Rai will release the film in Italy, with Le Pacte distributing it in France.

"Pinocchio is a dream of mine that goes back in time, back to when I was a child," said Garrone. "With this movie, I will complete my journey through the fairy-tale world that I started with Tale of Tales. I hope this will be an evolution thanks to the experience I’ve gained. The love I feel for Pinocchio isn’t love at first sight. It’s a character I’ve always been drawn to, and many have noticed his influence both in Gomorrah and Reality."

HanWay has boarded sales on the project, which is due to start shooting in spring, and will be introducing it to buyers at next week's American Film Market. Additional casting is underway.